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Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
 Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which succeded a significant rally. The Baltic Dry Index has been rising steadily from Wednesday, surpassing once again the 4,000-point barrier, ending yesterday’s session up by a healthy 144 points to reach 4,062 points. Shipbrokers had already warned about the expected increase after observing renewed cargo interest ahead of the holiday season.
In its weekly report, Fearnley’s said that the trend from the last couple of weeks is broken, with the Capesize segment again picking up momentum. Indeed, the Baltic Capesize Index gained 288 points at 6,640 leading yesterday’s session, with the Panamax segment following closely. Referring to the capesize market, Fearnley’s noted that “declining steadily some 12% from $73500 to $64500 before recovering, average daily spot earnings now stand at close to USD 70000 and short-terms prospects are bright. Congestion remains considerable in main discharging ports and activity is picking up on the back of increased inquiry by both industrial bodies and operators.
Atlantic is leading the way by means of a very balanced cargo/tonnage ratio, supported by Australian miners absorbing a considerable chunk of prompt Pacific units. FFA levels finally give support to the period fixing taking place earlier in the week, including 180000 dwt/2009 N/B done for 12 months basis Dec delivery at USD 40000 and 180000 dwt/built 2009 fetching USD 42000 for 12 months basis prompt delivery off Muscat” the broker concluded.
According to a quote in Reuters by Adrew Dawson, an FIS broker, “there is a lot of fresh cargo enquiry in the Atlantic but it seems a large percentage of this is not actually firm business but more talk by traders trying to sell cargoes into a softer freight market". In the longer term though, brokers expect the market to continue presenting increased volatility, before facing increased downward pressure after the first quarter of next year, mainly as a result of an increase of tonnage supply, as more new buildings are bound to hit the water.
But, a series of reports this week, indicated that things may well turn the other way around. For instance, Cosco’s Chairman, Wei Jiafu said at a conference in Shanghai that ship owners may cancel or delay about 40% of new vessel orders (of all ship types) by the end of 2010, as a result of overcapacity concerns. Chinese shipyards have had orders for 88 vessels canceled this year through October, as lines, including Cosco, pare growth because of the global recession. Global shipyards hold bulk-ship orders equal to 60 percent of the capacity of the existing fleet, according to data compiled by Bloomberg. For container ships, the figure is 36 percent.
Meanwhile, in other remarks, this time by Clarkon Plc’s Managing Director Martin Stopford, the orderbook was now 44% of the extant fleet, compared with just 11% in 2000. ‘My guess is this is at least twice as much capacity as is really needed,’ he said. The orderbook has a contract value of $464bn, he said, but the actual market value of these ships if sold on delivery ‘could be half that amount’. Ships ordered in past years are at prices 30 to 50% above today’s collateral value, warned the doctor. He urged yards to slow delivery times for the coming couple of years. Owners and yards needed urgent dialogue, stressed Stopford, noting that, ‘On a purely financial note, someone must be prepared to write off $200bn’ he said.
Source: Hellenic Shipping News
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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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Showing 6141 to 6145 news of total 6871 |
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- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- The University of Queensland
- Sical Logistics Limited - India
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